In December of 2016, XL Computer's internal auditors discovered that office equipment costing $810,000 was charged to expense in 2014. The asset had an expected life of 10 years with no residual value. XL would have recorded a half year of depreciation in 2014. Required: Prepare the necessary correcting entry that would be made in 2016 (ignore income taxes), and the entry to record depreciation for 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)